AI and Cloud Consolidation Needs Drive Demand for the Hybrid Cloud Storage Leader's Offerings
BOSTON, Jan. 30, 2024 /PRNewswire/ -- Nasuni Corporation, a leading hybrid cloud storage solution, today announced record results for its fiscal year ending December 31, 2023. These results were fueled by unprecedented demand for the Nasuni File Data Platform, as enterprises are requiring more agile operations with unstructured data management, data intelligence and AI, and ransomware safeguards.
According to Gartner, the hybrid cloud storage market is the future. In 2023, legacy hardware storage vendors continued to show flat-to-negative growth, highlighting the shift to a new cloud architecture and a consolidation cloud approach accelerated by AI. The Nasuni File Data Platform enables enterprises to consolidate silos of unstructured data in the cloud and retains the familiarity and fast performance of traditional file systems - all while leveraging the cloud's global scalability, security, and cost efficiencies.
In 2022, Nasuni announced that it had passed the $100M milestone in annual recurring revenue (ARR). In 2023, despite the challenging economic environment, Nasuni's ARR grew by 30%. Paul Flanagan, Nasuni CEO, commented:
"Over the last five years, we have averaged a steady annual recurring revenue growth rate of 30%, and we are proud that we've done it again in 2023. We have maintained top decile key performance indicators in our business allowing us to be cash flow positive for the year. Our continued growth validates the approach of a hybrid cloud platform being the key to managing cost, delivering outstanding data performance, providing world-class data protection, and enabling AI innovation via the cloud.
Managing our business responsibly through the ever-changing market and global conditions of the last few years has allowed us to grow consistently as a company, with over 800 customers, 500 employees, and a very strong balance sheet that has enabled us to avoid any reduction in workforce. For Nasuni, 2023 was another exceptional year and we're confident that our ongoing product innovation and outstanding customer support will lead to a stronger 2024 and beyond."
In 2023, Nasuni delivered:
- 30% growth in ARR year over year.
- 46% growth in new customer Annual Contract Value bookings.
- 120+ new large enterprise customers across all verticals, including Tommy Bahama, Patagonia, Aedas, Oshkosh Corporation, State of Vermont, and Autodesk.
- Closing the first 8-figure customer contract for the Nasuni File Data Platform.
- World-class customer support delivering top decile gross revenue retention rates of over 98% and net revenue retention rate of 118%, a testament to Nasuni's ability to retain and expand customers.
- Growth in its employee base to over 500 employees.
- Growth for its ransomware detection offering with an attach rate of 71% on new customer sales in 2023 (launched at the end of 2022).
- Significant year over year growth of terabytes in cloud capacity, predominantly in:
- Microsoft Azure: 43%
- AWS: 34%
- Google Cloud: 133%
Additional achievements in 2023 included:
- New integrations with Microsoft Sentinel to simplify how businesses protect their file data from cyber threats and accelerate recovery with Targeted Restore.
- An expanded partnership with solutions provider Presidio, to simplify how companies store, protect, and manage file data in hybrid cloud environments. Nasuni is optimizing AWS Cloud use and reducing OpEX with Presidio's Proactive Recapture into Savings Management (PRISM) program.
- A key partnership with energy solutions provider Cegal, further driving its momentum in the energy sector with 235% growth year over year. Nasuni and Cegal are enabling global operators, like Petronas, Neptune Energy, and BW Energy, to transition to a cloud-based data platform delivering strategic benefits specific to the energy industry.
- A strengthened leadership team with the appointments of Pete Agresta as Chief Revenue Officer (CRO) and Asim Zaheer as Chief Marketing Officer (CMO), as well as the promotion of Jim Liddle to Chief Innovation Officer who will lead the development and implementation of Nasuni's data intelligence and Artificial Intelligence (AI) strategies.
- Nasuni also announced the appointment of Matthew Grantham as Head of Worldwide Partners and Curt Douglas as Vice President of Sales for its western region.
- A NorthFace ScoreBoard Service Award for Global Customer Support Excellence for the third year in a row. Nasuni's customer satisfaction scores and gross customer retention rates both remained best-in-class at 89 (NPS score) and 98%, respectively.
- Nasuni was issued eight (8) new US patents directed to its core cloud-native global file system solution and its features that enable built-in security, edge performance, and scalability. Additional patents were granted for various features such as rapid ransomware detection and recovery, and AI-workload support.
"In 2023, we saw enterprise IT leaders struggling to handle skyrocketing data volumes, unstructured data, hybrid work needs, and budget constraints, while trying to reduce risks from increased cyber attacks. We've anticipated these challenges by developing tools that deliver scale, security, and performance at a cost unmatched by traditional file infrastructure providers. Nasuni is an enabler for businesses to transform their file data into a real asset, while reducing costs and unlocking efficiencies and innovation, by consolidating file data into a versatile enterprise hybrid cloud platform that can facilitate core enterprise AI use-cases," added Flanagan.
Nasuni currently supports more than 800 enterprise customers, including numerous Fortune 500, in over 70 countries.
About Nasuni
Nasuni is a leading hybrid cloud storage solution that powers business growth with effortless scalability, built-in security, and fast edge performance using a unique cloud-native architecture. The Nasuni File Data Platform delivers operational excellence by consolidating NAS and backup, eliminating data silos, and making management easy and flexible without changes to apps or workflows. Its built-in security offers proactive defense and rapid recovery, lowering organizations' risk from the detrimental effects of ransomware attacks and other disasters. Synchronized access to file data everywhere ensures user productivity by supporting remote and hybrid work. By leveraging object storage, data is consolidated and optimized for content intelligence tools and AI workflows.
Organizations worldwide rely on Nasuni, including leaders in manufacturing, construction, energy, consumer goods, and public sectors. Nasuni's corporate headquarters are located in Boston, Massachusetts, USA and the company delivers services to over 70 countries. For more information, visit www.nasuni.com.
Social Media Links
Twitter: http://www.twitter.com/nasuni
LinkedIn: https://www.linkedin.com/company/nasuni
Blog: http://www.nasuni.com/blog
Media Contacts
US: Jessica Luhrman
Waters Agency
Phone: (210) 273 0914
Email: nasunipr@watersagency.com
UK/Europe: Maria Loupa
Waters Agency
Phone: +44 (0)7591 004 738
Email: nasunipr@watersagency.com
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